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Embracing Arbitrum, Could Trader Joe get a Second wind?

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Arbitrum can give Trader Joe a new opportunity to attract liquidity and improve availability.

原文标题：《拥抱 Arbitrum，Trader Joe 能否迎来第二春？》

Original article by Chinchilla

aididiaojp.eth, Foresight News

After rising and falling with the Avalanche ecosystem, Trader Joe chose to expand into Arbitrum anyway. It will be interesting to see what happens to Trader Joe after its Token economy reforms and technology upgrades?

Trader Joe 最初的 Token 发行时间是 2021 年 7 月 3 日，就在上一轮牛市的第二波上涨趋势当中。JOE 没有预售、私募或上市前申购，但据 DefiLlama 显示，它在上线之后立即就在 Avax 生态中获得了令人难以置信的吸引力。

但不幸的是，熊市来了。Wonderland 和 3AC 对 Avalanche 生态造成了沉重打击，用户跑严重流失。当然，JOE 的 Token 经济学并不是最好的。你可以在下图看到其 Token 供应。

但是开发人员同样做了一些事情来改善困境，第二季度团队进行了 Token 经济学改革，为 JOE 质押提供了更多实用性。市场最初反应良好，但从长远来看， Token 释放和整体宏观环境难以维持 Token 价值的持续增长。

The team has also recently made technical upgrades, such as:

The protocol owns liquidity to maximize capital efficiency (e.g. JOE liquidity owned by the protocol can now be deployed in new revenue streams) Banker joe markets Upgraded Edition Design Centralizes liquidity

Trader Joe's revenue and daily active users have been declining throughout the bear market, and despite that, Trader Joe has also been one of the top grossing DApps in today's market conditions.

Trader Joe's is still well positioned relative to competitors and other Dapps when considering P/S ratios (fully diluted market cap/annualized revenue). Generally, the lower the P/S ratio, the stronger the value creation ability of the agreement.

Trader Joe 的流通供应最近略有萎缩，可能是受到两个因素：一个是更多的 JOE 被质押来创造收益；一个是 90% 的 Token 已经被铸造，并且释放量正在降低。

In addition, from an agreement perspective, the team is working on partnerships with some of the most established projects in the Arbitrum ecosystem such as GMX and others.

In any case, "Abritrum Native Dex" seems to be one spot short, but we shouldn't forget about this serious contender for the throne, which certainly includes more established deals such as Uniswap and Sushi; Nascent deals such as SwapFish and Camelot. It might be interesting as a spectator to see how it develops.